Popping the Housing Bubble

Atlanta Federal Reserve Bank President Jack Guynn added to the housing bubble debate with these comments.

"'There are some local markets, especially in coastal Florida, where I've heard stories for more than a year about behavior that's got to be characterized as nothing other than speculation,' Guynn said it response to questions after his speech." "'It makes me very uncomfortable. Some buyers, some builders, some lenders are going to get burned, could very likely get burned, in some of those local markets,' he said."

Emphasis added.

Remember that line from The Amityville Horror? Folks, it's time toget out.